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The Authorities Released A Figure That Reveals The Truth About The Actual Well-being Of Belarusians

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The Authorities Released A Figure That Reveals The Truth About The Actual Well-being Of Belarusians

Two-thirds simply cannot set aside money for a "rainy day."

According to data from a comprehensive national sociological survey reported by the state news agency BelTA, 41.3% of Belarusians spend all their earnings and do not save at all—that is, they live paycheck to paycheck, without any financial safety net.

Another 33.4% of the country’s residents are forced to resort to installment plans or loans to afford necessary purchases. And only slightly more than 28% of Belarusians manage to set aside cash. A mere 12.4% of those surveyed put their “extra” money into a bank deposit—a figure that suggests there isn’t much to save rather than any mythical love for the banking system.

It is noteworthy how pro-government commentators attempt to interpret these figures. Alexei Avdonin , chairman of the board of the “Znanie” Public Organization , stated:

“Today, people focus on consuming goods and taking out loans; in doing so, they are confident about the future—confident that they will be able to ensure, through their salaries, a stable future and a stable socioeconomic situation for their families and children.”

In reality, however, the lack of savings among the majority of the population is not a sign of “confidence in the future,” but a direct consequence of low wages and constantly rising prices.

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